Church of England clergy may work until 68 to fight pensions crisis

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Anglican clergy are to be asked to work until the age of 68 to rescue the Church of England from a multimillion-pound pensions shortfall after the credit crunch left a “huge great hole” in a scheme created in 1998.

The increased longevity of the clergy, combined with greater regulation and the credit crunch, has left the Church’s new pension scheme with liabilities of £813 million, nearly almost double the £461 million market value of its assets.

The scheme, created in 1998 and part-funded by churchgoers who are being asked to put more in the collection pot than ever before to